Property Inventories
Tenancy Deposit Scheme
The Tenancy Deposit Scheme legislation was put into place on April 6th 2007 to protect tenants and landlords from unfair use of tenancy deposits. The Tenancy Deposit Scheme protects every Assured Shorthold Tenancy (AST) in Wales and England.
It is designed to aid the resolution of any disputes at the end of tenancies as quickly and as smoothly as possible. Under the scheme tenants must leave the property in the same condition that they received it allowing for fair wear & tear.
Any cases that cannot be settled between the landlord and tenant are sent to arbitration where a fair & accurate inventory is required to be provided by an impartial third party. The independent adjudicator will have the final decision on how the deposit is apportioned.
Property Inventory --- why have one?
A professional, unbiased and independent report is vital for tenancy deposit dispute resolution under the Tenancy Deposit Protection Scheme.
Adjudicators will review all documents so a properly compiled and detailed inventory and check out document will provide a valuable tool in the event of the matter being passed to an adjudicator before reaching a judgment.
It is therefore vital that all evidence is detailed, unbiased and preferably independent.
Cube Property Inventory
Essential protection for every tenancy... with the introduction of the Tenancy Deposit Protection regulations (TDS) it has become impossible to safely recover costs for damages/loss without independently sourced documentation to verify your property's original condition.
Keeping the law on your side...
Without question, an accurate, concise and easily read record of your property's condition and contents prepared and/or updated with each subsequent tenancy is of crucial importance.
When produced by an independent 3rd party, the inventory (and schedule of condition) report(s) form a legally binding document and as such prove invaluable in recovering costs should the property or its contents suffer more than fair wear and tear.
An inventory provided by Cube delivers each of these key elements efficiently and produced in an easy to read inventory report.
Check in
So now we’ve got the Inventory sorted... In order to enhance your protection and peace of mind, you really should have the CHECK-IN carried out by an independent 3rd party.
Why bother with the expense?
Well is it cost? – Or a sound investment?...
Ensuring the continuity of the unbiased assessment of the property, its condition and that of the furnishing and contents will form a key element in the event of a potential dispute at check out.
It’s important to afford the tenant the opportunity to inspect the property and be guided through all aspects of the initial inventory report produced by the experienced clerk from Cube property inventories ensures they are satisfied with the reports accuracy.
Looking forward, it is then just about impossible for the tenant to claim at a later date that the report was not a true reflection of the property, its condition and/or contents!
Check out
Be prepared when it’s time to bring the tenancy to a conclusion……
Using the services of an independent adjudication by an experienced Cube inventory clerk is the safest way to ensure the condition of your property is assessed and reported accurately. This will help ensure that any required claim for deduction from the security deposit is agreed with minimum fuss and delay...
Whilst in many instances the outgoing tenant has fulfilled their obligations admirably, regrettably not all can be relied on to do so, in fact it is better to expect the worse and prepare for it.
As a landlord you will have a biased view…
Unfortunately most disputes pertaining to damages/excessive wear and tear, missing/broken items occur when the assessment is made by the landlord. Consequently, the amount of damages received from the tenant is far smaller (if you get anything at all) as your opinion is generally considered to be biased – it may well be of course that the observations you made would have been the same as a impartial 3rd party!
Interim inspection
Prepare and prevent any potential shocks or horrors...
An interim inspection offers you extra peace of mind with a report confirming the current condition of your property and its contents. This is far better than the all too typical scenario of a property being let and then forgotten about for months on end, only to come as a horrible shock come the end of the tenancy if the tenant hasn't looked after the property as expected!
Prices
| Unfurnished | Inventory Make | Check-In | Interim | Check-Out |
|---|---|---|---|---|
| 1 Bedroom | £65.00 | £45.00 | £45.00 | £45.00 |
| 2 Bedrooms | £65.00 | £45.00 | £45.00 | £45.00 |
| 3 Bedrooms | £65.00 | £45.00 | £45.00 | £45.00 |
| 4 Bedrooms | £75.00 | £45.00 | £45.00 | £45.00 |
| 5 Bedrooms | £80.00 | £45.00 | £45.00 | £45.00 |
| Furnished | Inventory Make | Check-In | Interim | Check-Out |
|---|---|---|---|---|
| 1 Bedroom | £90.00 | £45.00 | £45.00 | £45.00 |
| 2 Bedrooms | £90.00 | £45.00 | £45.00 | £45.00 |
| 3 Bedrooms | £90.00 | £45.00 | £45.00 | £45.00 |
| 4 Bedrooms | £110.00 | £45.00 | £45.00 | £45.00 |
| 5 Bedrooms | £110.00 | £45.00 | £45.00 | £45.00 |
